Is it left to recognize facts that a growth-based, unchecked plutocracy is using up our resources? Are you a socialist to understand how Bank of America and Goldman Sachs profited from deceit at the expense of 99% of us?

Left and Right then self-segregate into their own enclaves where they only hear their own side ratified — think a Tea Party rally and Occupy Wall Street protest.

Do you agree? Is it left to recognize facts that a growth-based, unchecked plutocracy is using up our resources? Are you a socialist to understand how Bank of America and Goldman Sachs profited from deceit at the expense of 99% of us?

Is this Ron Paul supporter a left-wing freak for understanding that the monetary supply is based on debt — nothing?

Comments

Its not what backs the currency, it’s who controls its quantity.
Also, Article 1 Section 8 of the United States Constitution states that congress has the power:
“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”
It also states in Article 10:
“No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.”

Title 28 of The United States Code defines “The United States of America” as a Federal Corporation.
Article 10 does not apply to challenge the unconstitutionality of The Federal Reserve’s Note issue.
The Legal Tender Act of 1862 enacted under Abraham Lincoln, granted the President the power to declare what could be considered legal tender for trade and commerce I.E. FIAT(by decree), debt-free money.
FIAT money gets a bad rap because people believe that something tangible has to be symbolized within the context of the paper I.O.U.’s we pass around everyday. Our currency is backed solely by the good credit and faith of The United States and its citizens through a bond issue, which, in itself, is an I.O.U., used as collateral to the Federal Reserve in exchange for borrowing their Federal Reserve Notes at interest. When a nation only has to print out 10% of the loan’s worth and pay it off later, it looks very enticing to do. The perpetual debt however, alongside another interest bearing perpetual debt loan cycle through the commercial banks, as well as another perpetual debt loan cycle through 3rd party lenders, will never be paid off as it is pushed on generation after generation.

When people think about the gold standard they make 2 mistakes. The first, the only thing the gold standard does is fix the price of gold for trade on the open market. In 1810 the Bullion Committee was commissioned by the English Parliament to figure out why the price of gold was rising. They came to the conclusion that the rise in prices was due to the rise of paper money in circulation. This effectively became known as the Gold Standard.
What is also failed to be established is that whatever you decide to back your currency with, becomes the debt-free FIAT currency because it is considered legal tender.
It’s not what backs the currency, it’s who controls its quantity. In this case, The Federal Reserve, a private corporation owned by private stockholders whose identities are not disclosed because they are a private, independent authority with a monopoly on the issuance of our money supply, is who is controlling its quantity.
I’m sorry but the gentlemen in the above mentioned video is incorrect.

Yes, Occupy is left. Occupy is not just about financial policy, banks, and the 2008 financial crisis. Just look at the Occupy declarations all around the country. As I wrote in an article published at the Occupied Tucson Citizen: “it is not true that “the 99%” are in agreement regarding other issues important to the political left generally: institutional racism, patriarchy, homophobia, xenophobia, or narcissistic, self-destructive patriotism, workers rights, education as a right, etc.” Take a look at Occupy declarations, and you’ll see they’re filled with leftist social justice fundamentals.